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PVology Governance & Assurance
Risk
- Can I record residual risk in PVology Risk?Not as separate fields yet. The Risk application has one likelihood and one impact rating. Project risks in PVology Projects have Residual probability and Residual impact.
- How to add a key risk indicator (KRI) to a riskOpen the risk, choose the Key risk indicators tab and fill in Add a key risk indicator: name, where the value comes from (Entered here or A Performance KPI), direction, unit, amber and red thresholds, frequency and owner. Record readings with Record reading.
- How to add a risk to the risk registerIn Risk choose New risk, enter the Title, owner, status, category, likelihood, impact and response, then choose Create risk.
- How to close or archive a riskOpen the risk, set Status to Closed and choose Save changes. To remove it from the open list entirely, choose Archive; it can be restored and is never deleted.
- How to escalate a ProjectOrbit project risk to Governance & AssuranceIn the project, open Registers → Risks (or Opportunities) and choose Escalate to Governance & Assurance on the item. PVology creates one organization risk linked to the project risk; escalating again opens the same risk. The project risk stays in the project.
- How to explore the Governance & Assurance sample from start to finishIn Preferences → Sample data, add the sample "Regional warehouse expansion — Governance & Assurance end to end". It connects a project, an objective, a risk, a requirement, obligations, one shared control, evidence, a control test, a finding and remediation. Sample records are marked SAMPLE and can be removed at any time.
- How to get around PVology Governance & AssuranceOpen Applications → Governance & Assurance. The navigation is Overview, My work, Risks, Compliance, Controls, Assurance, Findings & actions, Reports and More. Overview shows what needs attention; My work lists what you own that needs you.
- How to get started with PVology RiskOpen Applications → Risk. It keeps a risk register: capture risks early, rate likelihood and impact from 1 to 5, and agree a response. Choose New risk to add one.
- How to rate a risk's likelihood and impactOpen the risk and choose Likelihood (1–5) and Impact (1–5). PVology shows Risk score = likelihood × impact, out of 25.
- How to record a risk response or treatmentOpen the risk, describe the actions in Response / treatment, set Status to Treating while you act or Monitoring when it is under watch, and choose Save changes.
- How to record an opportunity (positive risk)PVology Risk has no separate opportunity type yet. Add it as a risk with a Category such as Opportunity, or use the Opportunities register in a project, or PVology Value for improvement ideas.
- How to set your risk appetiteOpen More → Risk criteria and appetite and, under Set appetite for a category, choose the category (empty for all categories), the Highest acceptable level (tolerance), the Appetite statement and who to escalate to, then Save appetite.
- How to set your risk criteria and matrix (3×3, 4×4 or 5×5)Open More → Risk criteria and appetite. Start from the built-in PVology 5×5 or choose Set up criteria with a 3×3, 4×4 or 5×5 matrix, then edit the likelihood and impact labels, the risk levels and the level of every cell, and choose Save criteria.
- PVology Risk: common questionsRisk needs the application in your plan and, in an organization, a licence. AI help inside Risk is not available yet. Sample risks can be added and removed, and Export CSV downloads your records.
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